Bitcoin recently brokeout of the pennant chart pattern as expected. It looks like the market is printing an ascending channel and price bounced off the channel resistance. Price is currently experiencing retracement to the horizontal flip support + channel support + fib retracement levels. Bounce off the channel support would be a good bullish signal↗️.
Price has tested a monthly level and was rejected, Price pulled back to retest the level and is now falling
You can wait for price to break the wedge or enter now and just wait for the drop to one of the fibo levels
1st Opinion. 👇
If BTC Successfully Breck Upper , It Could Be Touch 10400 - 10590.Then It Can Be Touch Again 9700 To Fill The CME Gap. I Have Drawn 2 Reistence Here.
2nd Opinion. 👇
If Price Breck Below The Triangle, After Closing CME Gap.BTC Will Touch 9700 To Fill CME Gap. From Here Price Will be Pump.
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Again you can see the volume has lowered today, gold is taking an absolute battering and BTC is to follow.
The bear flag seen can also be seen on the higher timeframes from the recent price activity prior to the recent dump. Check out my analysis from earlier today; in connection, this what I think is going to happen including my predicted price.
It's in plain...
The over all trend of this pair is about to change and its consistently testing the trend line
We are currently in an area of interest where sellers usually take control and push price lower
Wait for correction to be broken before shorting
From the daily chart, we can see price movement towards $12,000
Will, there be a rebound from this price area or will there be a breakthrough???
I think price will rebound from this level because Price has always made a rebound from the past when it gets to this point. The price might go further above $12000 but it will not go further than $12600
So we should be...
We can clearly see by looking at the chart what happens when price breaks this level of support
I am expecting the same thing to happen again, there is enough divergence on the lower timeframes to confirm a change in trend is coming as well as knowing that the USD is falling all over the place... this will bomb very soon
Although I personally do not trade Bitcoin but I keep a keen interest and follow the market closeley for my client. As you can see there are two descending trendline on BTC. Top one is of course the major one and next one also a strong one which is actually a descending trendline within another descending trendline. That makes the chart even more...
Before halving, Bitcoin continues to maintain its positive outlook.. Bitcoin obviously performs better than I expected and in this context, the new target seems to be $ 10500..
In general, I find it meaningful to evaluate the possibilities with different approaches in my publications.. With a different approach in # BTCUSD, we can say that there are some...
If you are looking for an opportunity to long bitcoin then you might be right to hold off on the short term. We have had two minidumps that have confirmed my theory of us revisiting this lower (red) trendline. If you were to enter long now then don't enter with high leverage, use lower leverage say 5x-7x then increase to a maximum of 10x if we touch the trendline....
On ADA we have had very nice institutional price action... ATM there is plenty of IPA marked in my purple boxes and I predict this to go up till that zone I've marked with my White Line....
What will it do after determines on the structure it makes before comming up to this zone.
It is Bullish over all and I do see the price coming back to those highs... Its just...